Magic Software Non-GAAP EPS of $0.26, revenue of $138.7M; raises FY22 guidance

May 12, 2022 7:01 AM ETMagic Software Enterprises Ltd. (MGIC)By: Meghavi Singh, SA News Editor4 Comments
  • Magic Software press release (NASDAQ:MGIC): Q1 Non-GAAP EPS of $0.26.
  • Revenue of $138.7M (+29.3% Y/Y).
  • As of March 31, 2022, Magic’s net cash, cash equivalents, short and long-term bank deposits and marketable securities amounted to $113.5 million.
  • Magic Software has increased its 2022 annual revenue guidance to a range of $540 to $550 million vs. consensus of $540.4M, up from its prior range of $535 to $545 million, which now reflects annual growth of 12.4% to 13.5%.

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